Automotive Drivetrain Market Competitive Landscape and Key Product Segments
The global automotive drivetrain market is anticipated to witness a steady growth during the forecast period, mainly due to the increasing production and demand for vehicles, and need for high acceleration and towing capability in the vehicles. Additionally, the growing demand for electric vehicles across different countries, owing to emission reduction is another factor boosting the market growth.
A drivetrain is an assembly of components that conveys power to driving wheel of a vehicle. The drivetrain comprises driveshaft, transmission, wheels, and axles. Engine is not a segment of drivetrain although the function of the drivetrain is to combine the engine and driving wheels so as to provide power to vehicle. Development of new technologies in the production of all-wheel drive (AWD) for cars and sports-utility vehicles (SUVs) is the trend followed in the automotive drivetrain market.
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On the basis of region, the automotive drivetrain market is classified into North America, Europe, Asia-Pacific (APAC), and Rest of the World. Among these, APAC is projected to lead the automotive drivetrain industry, due to increase in technological advancement and vehicle production in the region. APAC includes China, South Korea, Japan, and India, which are the uppermost nations in terms of production of vehicles. The expansion of new technologies in the manufacturing of AWD for passenger cars and SUVs so as to improve overall vehicle performance is the new trend observed in the market. The APAC market is currently dominated by FWD vehicles, but AWD and RWD categories are also rising at a stable rate.
The automotive drivetrain market is primarily driven by rising demand for lightweight materials in the manufacturing of automobiles, which result in improved fuel efficiency.
Therefore, manufacturers are coming up with lightweight drivetrains to improve the overall performance of the automobiles. The surges in the demand and manufacture of vehicles is another significant factor propelling the evolution of the automotive drivetrain industry during the forecast period. Since the economic downturn of 2007–2008, the automotive production across the globe was held captive. But from the year 2014, sales and production of automobiles have improved substantially. For instance, total motor vehicle production in 2014 was 89,700,000, which was increased to around 97,300,000 in 2017, an increase of 8.5%.
Some of the key players operating in the global automotive drivetrain market include ZF Friedrichshafen AG, GKN PLC, Borgwarner Inc., Showa Corporation, Schaeffler Group, Magna International Inc., Aisin Seki Co. Ltd., JTEKT Corporation, Dana Incorporated, and American Axle & Manufacturing Inc.